A sustentabilidade é um tema inevitável do século XXI, e vários estudos já exploraram os benefícios económicos de práticas sustentáveis. Esta dissertação explora a relação entre a avaliação de fatores ambientais, sociais e de governança (ESG) de empresas europeias e o seu custo …
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The financial crisis of 2007-2009 raised concerns regarding countries’ abilities to rescue their largest banks should a new crisis emerge. By focusing on European Union banks from 2001 through 2019, this dissertation investigates the impact of both absolute and systemic bank siz…
Model interpretability may be defined as the degree to which a human can understand the cause of its outputs. In statistical modeling there is a trade-off between interpretability and prediction accuracy: interpretable models are usually less accurate, whereas complex models hav…
Europe experienced a sovereign debt crisis starting in 2010, in which perceived default risk and interest rates on government bonds soared in many countries, leading to recessions. This episode was preceded by a steady rise in the ratio of corporate debt to GDP, suggesting that …
Being an assessment of a government's ability to liquidate its obligations and a measure of the economic, financial and political situations of an economy, sovereign credit rating becomes progressively important for governments and international financial market. As commonly use…
This thesis studies the risk-taking behavior of banks, classified according to their ownership status and deposit collectability, operating in Turkey for the sample period 2004-2020. The aim of this thesis is to investigate whether the risk-taking behavior of development and inv…
This dissertation consists of three chapters, studying questions in dynamic games and information economics. These chapters represent a selection of my research conducted during the period of my PhD studies.
This dissertation is concerned with how groups, be they groups of individuals or groups of nations, develop and interact.
This study analyses the association between Corporate Social Responsibility (CSR) and Cost of Capital for companies listed in the STOXX Europe 600 index, from 2002 to 2018. The Ohlson and Juettner-Nauroth (2005) and Easton (2004) models are used to compute an ex-ante cost of equ…
O objetivo deste trabalho final de mestrado é identificar e analisar quais as variáveis que têm maior impacto na evolução de Empréstimos não produtivos em Portugal (Non-Performing Loans). O período de análise será entre 2009 e 2019, tendo início após a crise de "subprime" de 200…
I use both theoretical and empirical models to assess how alternative measurement approaches to banks’ loan loss allowances affect lending when banks are subject to regulatory capital requirements. I find that: (1) the Current Expected Credit Loss (CECL) method increases loan lo…
This thesis consists of two self-contained studies in Debt Valuation Adjustments (DVAs). The first study is motivated by the debate about the introduction of the Fair Value Option for financial Liabilities (FVOL) and the requirement to recognize and separately disclose DVAs in f…